Baltic TOP - 2024
Baltic's most valuable enterprises
Discover your company’s value
| TOP 2024 | TOP 2023 | Company name | Value 2024 | Value 2023 | Change | Turnover 2023 | EBITDA 2023 | CorpGov Score | Country | Industry |
|---|---|---|---|---|---|---|---|---|---|---|
| 3 | 1 | THERMO FISHER SCIENTIFIC BALTICS, UAB | 5389.59 | 6180.66 | -13% | 821.0 | 405.8 | 10 |
|
Manufacturing: consumer goods |
| 1 | 2 | REVOLUT HOLDINGS EUROPE, UAB 1 | 6910.34 | 5924.88 | 17% | 12103.4 | 553.9 | 32 |
|
Financial services |
| 2 | 3 | VILNIAUS PREKYBA, UAB | 5740.37 | 4816.94 | 19% | 7772.2 | 655.9 | 48 |
|
Trade: consumer goods |
| 4 | 4 | SWEDBANK BALTICS, AS 2 | 4345.16 | 3397.58 | 28% | 43389.0 | 4891.0 | 44 |
|
Financial services |
| 5 | 5 | LATVENERGO, AS | 4023.89 | 2912.41 | 38% | 2034.4 | 590.1 | 95 |
|
Utility services |
| 7 | 6 | WILLGROW, UAB | 2782.06 | 2549.69 | 9% | 1757.5 | 231.8 | 39 |
|
Transport, transit, logistics |
| 8 | 7 | IGNITIS GRUPĖ, AB | 2777.82 | 2463.52 | 13% | 4381.3 | 507.3 | 100 |
|
Utility services |
| 6 | 8 | SEB BANK GROUP 3 | 2922.13 | 2313.79 | 26% | 28140.4 | 3007.8 | 89 |
|
Financial services |
| 11 | 9 | LATVIJAS VALSTS MEŽI, AS 5 | 1657.36 | 2206.14 | -25% | 626.1 | 293.9 | 98 |
|
Extraction of natural resources |
| 10 | 10 | TELIA GROUP 4 | 1729.59 | 1897.75 | -9% | 860.6 | 292.7 | 76 |
|
IT and telecommunication services |
| 15 | 11 | ENEFIT GREEN, AS | 1395.63 | 1458.10 | -4% | 230.1 | 104.9 | 81 |
|
Manufacturing: energy carriers |
| 9 | 12 | LUMINOR BANK, AS | 1736.30 | 1352.26 | 28% | 15492.1 | 1778.1 | 91 |
|
Financial services |
| 12 | 13 | EESTI ENERGIA, AS 6 | 1622.54 | 1204.37 | 35% | 1905.5 | 319.6 | 61 |
|
Utility services |
| 16 | 14 | TELE 2 GROUP 8 | 1294.28 | 1202.37 | 8% | 612.7 | 236.3 | 22 |
|
IT and telecommunication services |
| 24 | 15 | MIKROTĪKLS, SIA | 991.70 | 1182.28 | -16% | 401.6 | 109.6 | 10 |
|
Manufacturing: industrial goods |
| 18 | 16 | LHV GROUP, AS | 1101.13 | 1154.60 | -5% | 7125.6 | 556.4 | 79 |
|
Financial services |
| 13 | 17 | BALTIC CLASSIFIEDS GROUP 7 | 1416.88 | 1115.84 | 27% | 72.1 | 54.9 | 83 |
|
IT and telecommunication services |
| 23 | 18 | TALLINK GRUPP, AS | 1024.82 | 1106.55 | -7% | 835.3 | 125.0 | 79 |
|
Transport, transit, logistics |
| 17 | 19 | BITĖ GROUP 9 | 1150.34 | 1082.82 | 6% | 564.0 | 191.7 | 48 |
|
IT and telecommunication services |
| 19 | 20 | LIETUVOS GELEŽINKELIAI, AB 10 | 1087.39 | 1049.81 | 4% | 452.6 | 142.6 | 100 |
|
Transport, transit, logistics |
| 21 | 21 | RIIGI KINNISVARA, AS 11 | 1066.74 | 1030.25 | 4% | 158.5 | 69.7 | 68 |
|
Real estate operations |
| 25 | 24 | GREN GROUP 12 | 919.20 | 1010.86 | -9% | 211.4 | 78.1 | 61 |
|
Utility services |
| 28 | 25 | UTILITAS, OÜ | 738.35 | 844.73 | -13% | 219.3 | 71.9 | 44 |
|
Utility services |
| 20 | 26 | INFORTAR, AS | 1082.84 | 799.78 | 35% | 1084.6 | 143.0 | 74 |
|
Utility services |
| 29 | 28 | RIMI GROUP 13 | 721.02 | 732.25 | -2% | 2000.2 | 70.2 | 44 |
|
Trade: consumer goods |
| 14 | - | ORLEN LIETUVA, UAB | 1400.92 | - | % | 6481.2 | 348.3 | 35 |
|
Manufacturing: industrial goods |
| 22 | - | BIFINITY, UAB | 1047.96 | - | % | 229.8 | 122.2 | 10 |
|
IT and telecommunication services |
| 26 | - | BIOTECHPHARMA, biotechnologinės farmacijos centras UAB | 819.12 | - | % | 93.0 | 57.0 | 27 |
|
Manufacturing: consumer goods |
| 27 | - | VIRU KEEMIA GRUPP, AS | 795.40 | - | % | 336.0 | 176.2 | 41 |
|
Manufacturing: energy carriers |
| 30 | - | IKI Lietuva, UAB | 710.88 | - | % | 887.6 | 80.3 | 42 |
|
Trade: consumer goods |
*TOP 101 reflects company's enterprise value. With the exception of banks and insurance companies - for these companies equity value is reflected. In case of the listed companies, the value is based on the company’s value on the stock exchange as of 30.06.2024.
** For banks and insurance companies the columns "revenue" and "adjusted EBITDA" present the value of total assets and equity respectively.
¹ REVOLUT HOLDINGS EUROPE, UAB valuation represents only a part of total "Revolut" company value.
² SWEDBANK BALTICS, AS is a financial holding company for subsidiary banks in Estonia, Latvia and Lithuania.
³ The equity value of SEB BANK Group is derived by combining the equity values of SEB Bank Latvia, SEB Bank Estonia and SEB Bank Lithuania.
⁴ The enterprise value of TELIA Group is derived by combining the enterprise values of Telia Estonia and Telia Lithuania.
⁵ Latvian state forests.
⁶ The value of Enefit Green is not included in the value of Eesti Energia.
⁷ BALTIC CLASSIFIEDS GROUP holds all business operations in the Baltic States, and the groups' enterprise value is derived from the equity listed on London Stock Exchange.
⁸ The enterprise value of TELE 2 Group is derived by combining the enterprise values of Tele 2 Latvia, Tele 2 Estonia and Tele 2 Lithuania.
⁹ BITĖ Group, which was consolidated into BITĖ LIETUVA, UAB in the TOP 2023, is now consolidated into PLT VII Finance S.à r.l.
¹⁰ Lithuanian Railroad.
¹¹ Estonian state-owned real estate.
¹² The enterprise value of Gren Group is derived by combining the enterprise values of Gren Latvia, Gren Riga, Gren Jelgava, Gren Daugapils, Gren Gulbene, Gren Estonia, Gren Tartu and Gren Lithuania.
¹³ The enterprise value of RIMI Group is derived by combining the enterprise values of Rimi Latvia, Rimi Estonia and Rimi Lithuania.
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